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After a couple of email exchanges with Hargreaves Lansdown - I eventually receieved a response to my question of whether they were prepared to submit a requistion on behalf Europa Shareholders (beneficial owners). Its seems they are as they sent me a blank requisition to be completed and retuned to them for signature.
I'm not sure what happended with the previous attempt - for one thing, I dont think that all posters here were onboard with getting rid of the entire BOD - namely I think some wanted to give Will Holland more time to prove himself. Just about eveyone liked the idea of cutting directors and SG&A though.
Personally, I was open to the idea but I did have questions on why Paul Barret thought he was the person to lead a strategic review and refocus of the Company when his tenure was also poor as measured by shareprice performance.
Anyway - the option to call a valid SGM is available if 5% of more of the shareholders think that Will Holland and the BOD are not performing.
Do you seriously think getting rid of the board now will help with the 2 possible farm outs. If they fail in both within the next 6-9 months ,fine but now is just madness
Tony,
HL has clearly changed their stance on this as I asked the same question when the shareholders were looking at requisitioning a meeting and was sent an email saying they would not do it, I even sent it to my MP. We definitely had enough support last time with over 5% but couldnt get HL to send the letter to EOG. I dont think Paul was looking to run the company but was looking at giving some return to share holders and reducing costs, all of which seemed very sensible to me and hence why I supported him. I have said this before but if the share price does not improve by this Autumn, I dont think they will continue to have shareholder support so it is very good to hear HL willing to send the letter.
There's some pretty dopy posters here:
"Do you seriously think getting rid of the board now will help with the 2 possible farm outs. If they fail in both within the next 6-9 months ,fine but now is just madness"
If they had read my post properly - they should have noticed that there was no suggestion that I thought getting rid of the BOD now was a good idea. I think I was pretty clear that it was an option if the BOD did not perform and that Hargreaves Lansdowne appear receptive to supporting.
If you dial back the clock - it was one of the most engaging topics on here where many posters here felt that Europa were ignoring shareholder rights in failing to authorize an SGM - i'm merely pointing out that it now appears possible.
The fact was that Paul Barret did not have the correct paperwork to call the meeting (despite what a few here claimed ) and i3e might well have been perfectly justified in rejecting the request. These shareholder meetings cost money and if Will Holland already had a majority of shareholders on board - why would he agree to a meeting which was not legally requested and was only supported by a few left wing, tree hugging Greta Thunberg fans !
Https://x.com/europaoilandgas/status/1789963566671430093?s=46&t=yb4bY8lQ32WiMrlMFx8_yQ
Well dopy,
why even mentioned it now , just stirring the pot .
Give them the chance in the next 6-9 months to get at least one farmout . After that you can play all your little political games and sort out your petty grievances .
By the way, a shareholders revolt and internal civil war , would be nice excuse for Ryan to turn down any licence application. He just wants a reason .
Finally dopy, are you as tough in real life as you are behind your computer ??
I am going to you also do not read the post properly. Paul did have all the correct paperwork but HL would not send a requisitioning letter in their name as the owners of the shares, which is what was and is required. If you had read my post properly, you would have seen that I have a letter from HL stating why they would not send the letter. Please don't peddle untruths
Flombino - you seem to be acting as a censor here on what can or cannot be posted , but to respond to your silly post:
1) "Why even mention it now" - I thought I was pretty clear but you appear slow on the uptake. If you've been reading any of the recent posts here, you will have seen continued dissatifaction with the share price and BOD including Will Holland by more than a couple of posters. So I was merely highlighting that shareholders are able to hold CEO's and BOD's to account. I never suggested it should be now but merely an option which even you seem to acknowledge might be a reasonable option in 6 months or so If Will Holland has not made any progress - do you get it now??
2) ".... play all your little political games and sort out your petty grievances ." - what are you talking about you dumb ass - refer to 1) above !
Aimshame,
1st of all - I never knowingly peddle untruths. I have an email from Paul Barret dated the 27th November 2023 in which he shares a letter from Europa dated the 17th November addressed to him and a number of other individuals that clearly states the reason for rejection of the requisition is that it was not signed by the legal owners of the shares (HL). So as a minimum Paul Barret failed to present the correct documentation on the first occassion. If he went back and tried to get a signed requisition - then I dont know about this because he never shared that information with me. I can provide you the link to both his email and the letter he recieved from HL. If you are not able to share the letter from HL wherein they refuse to provide him with a signed requisition - then I think you should appologize to me and to this BB for peddling false information.
I don't think you will ever believe anyone but yourself. If I could upload the letter, I would gladly do so and maybe you would actually acknowledge that you could be wrong but I doubt that would happen.
I am tired of you constantly mentioning it . Change the record . I have built up a nice stake in this company , thanks to our mysterious seller and don’t want it messed up by a jack ass fool like you with your little games and hidden agenda.
Flambino - I dont care what you are tired of - take a hike - its not up to you to control the narrative and tell others what they can post so I suggest that you button it. There were many posters on this BB who were extremely upset that Europa "apparently" ignored the will of bone a fide shareholders.
And for balance I said "apparently" recognising that if Will Holland had the backing of the majority of shareholders then he probably made the right decision to refuse the request.
Aimshame:
"I don't think you will ever believe anyone but yourself. If I could upload the letter, I would gladly do so and maybe you would actually acknowledge that you could be wrong but I doubt that would happen."
- how very convenient for you that you cannot post the link - there are many simple ways to do it and if your unwilling to do it you should not accuse people of peddling untruths and should appologize for making false accusations. Why should I acknowledge anything when you are not prepared / unwilling to back up what you say - I am ! Appologize - have you no shame !
I have blocked your ill manners rantings .
I thought it was a reasonable post - I guess some people are not happy unless you big it up all the time ! Management have a lot to prove here.
We invested in a company, not lets feel sorry for will and support Simon oddies lifestye.
Agreed G. This is an investment decision. They make a call and get it wrong, then they should take the consequences. We make an investment decision and get it wrong, we take the consequences.
Can't see that the EGM argument is going anywhere, as its widely agreed to be a grey area in the law (thats why Aimshame is right to be campaigning to get it changed) - so because its grey those who wanted the EGM feel they were wrongly and illegally deprived of one, and those that thought in view of the AGM vote it was going to fail, will think the company acted sensibly and appropriately if they were not legally required to call a vote of confidence in themselves. No amount of arguing over the legal niceties is going to resolve a grey area or I suspect change anyone's opinion at this stage. The fact that it keeps coming up partly shows how angry people were at the time, but is mainly happening because the company is providing absolutely no evidence of progress at this stage about which we could talk more usefully. I sincerely hope that they are making good progress and all will be revealed soon - but we have gone for 5 months now without meaningful progress updates which is partly why the SP is down and we are attracting derampers.
"Can't see that the EGM argument is going anywhere, as its widely agreed to be a grey area in the law"
Personally i'm not sure it is a grey area - Europa rejected the requisition because it was not signed by the legal entity owning the shares. The fact that some other companies accepted the beneficial ownership certificates does not mean Europa's legal opinion was incorrect. See copy of Europas letter below confirming reason for rejection - Aimshame still owes me an apology for spreading this apparent "untruth"
See copy of the requistion format below from HL along with their email message below in inverted commas:
"Re: Europa Oil & Gas AGM voting instructions - 01 Nov 2023 - 04 Dec 2023 - 02 Apr 2024
Dear Mr Norstrom
Thank you for your enquiry and please accept my apologies for the delayed response.
I hope this message finds you well, please also accept our delay in this.
Please find attached our requisition form please could you to complete the table attached and send this back to us in order for us to get this form signed.
Please open the document on a computer/laptop as this will not work on the App.
If you have any other questions, please let us know.
Kind regards
Christine Keay
Corporate Actions"
https://1drv.ms/b/c/0c8247dcfb29aa84/EbGU9UIAf4pNt_vax7lx0-QBD0jhIYzhOQ1GmJ_iKk13bA?e=dev8WK
https://1drv.ms/b/c/0c8247dcfb29aa84/ETZX_3NGaXhLl8aWvYBPlCoBpds8bYs-T5_wgn6fiMaufA?e=Znk70D
So it appears that HL are prepared to sign an "AGM" requisition. So to repeat again for the benefit of the one or two that are slow on the uptake here - i'm not suggesting that it be done now, it was just a follow on post to my earlier one a month or so back. I was asked by someone here to post the response from HL when I recieved (for Dopeys information).
Its a good to know in anycase for shareholders generally that may hold other shares where they might want to hold BOD's to account.
Twin brother here, Tony?
It is my twin Serif - its an account I set up when I was temporarily blocked out on my phone - not sure how I posted from it as i've not used it for some time. Anyway - facts are the facts - ive posted the links !
I was asked by someone here to post the response from HL when I recieved (for Dopeys information
So you asked yourself whether you should post it ?
Thats correct Flombo10 - no agenda's just facts and i've back it up. It wasnt even negative against Europa but you seem to be the kind of poster who objects to any post that is not a downright ramp and resort to calling out others for "ranting".
Anyway - you had said you had blocked me - why are you responding - do yourself a favour and go back onto ignore !
Lol. You insult people and then use a different account to say your own post “ was quiet reasonable “
Do the honourable thing now ,” dopey” and disappear for a while .
Yes Tony, there are some pretty dopy posters here:
For example:- your last paragraph on the post at 19.01 on the 13th May takes the biscuit!
“The fact was that Paul Barret did not have the correct paperwork to call the meeting (despite what a few here claimed ) and i3e might well have been perfectly justified in rejecting the request. These shareholder meetings cost money and if Will Holland already had a majority of shareholders on board - why would he agree to a meeting which was not legally requested and was only supported by a few left wing, tree hugging Greta Thunberg fans !”
What i3e have to do with it I have no idea; it always pays to re-read your post before sending it Tony.
Good to see that you have stopped insulting Paul and at least you have tried to remember his surname even though you have spelt it incorrectly; it is Barrett.
But come on Tony, do you honestly think that a “few left wing, tree hugging Greta Thunberg fans “ would invest their hard earned money in an Oil & Gas Company?
I’m one of the shareholders who supported Paul, so I suppose you are referring to me as well as others who post on here. For your information Tony, my politics are as diametrically opposite to Greta Thunberg and all that she stands for as could possibly be and which now apparently includes her taking sides with Hamas. What a stupid unfounded thing to say, I thought that you were better than that Tony, just goes to show how wrong one can be.
Flombino - I thought you were going to put me on ignore - why dont you stick to what you said you would do !
Gerry - dont flatter yourself - I had actually forgotten who you were. The reference to Gretta Thunberg was completely tongue in cheek - not meant to refer to anyone here let alone insult anyone here - so if the hat doesnt fit dont wear it !
The intent of my original post was just to share with fellow sharholders (not necessarily Europa shareholders) that HL appear to be willing to support shareholders in signing any future requisition - simples nothing more
I've come to the conclusion that I've either done my money here or that this 10 bags. Either way signing off. Glad, especially Serif
Good luck all .